Uh oh: industrial production down, real retail sales still below March high
- by New Deal democrat
In line with Bonddad's last post, this morning's poor industrial production report (blue)adds to the evidence that this vital sector might actually be contracting. Further, although retail sales did increase, July's number was revised down, (red)and we are still below the level of earlier this year.
Add that together with the miserable employment report (green), and it is at least possible that a recession could have started in August (which would still mean that ECRI was wrong).
I'm on Linked In and Twitter (@captivelawyer). Silver Oz's Linked In name is @silver_oz. NDD is a fossil and may be reached by etching a picture in stone on the wall of a cave.
The Bonddad Economic History Project
At the beginning of 2012, I decided to start looking at the actual, statistical history of the US economy starting in 1950. The reason is simple: to find out what really happened. So, when you see title of a post that begins with a year such as 1957, followed by "employment" or "Fed policy: you know what it's for. You can also access the information by typing in BE for Bonddad econ and a year to find information on a particular year.
Here is a link to pages that contain links to all the posts on the years listed.